FxWirePro: South Korean won falls drastically against euro, hits lowest level since March 2018
EUR/KRW is currently trading around 1,322 mark. It made intraday high at 1,324 and low at 1,321 levels. Intraday bias remains bullish till the time pair holds key support at 1,311 mark. A sustained close above 1,321 will…
It made intraday high at 1,324 and low at 1,321 levels.
Intraday bias remains bullish till the time pair holds key support at 1,311 mark.
A sustained close above 1,321 will take the parity higher towards key resistances around 1,340, 1,358, 1,363, 1,377 and 1,392 marks respectively.
On the other side, a daily close below 1,321 will drag the parity down towards key supports around 1,311, 1,302, 1,294, 1,287, 1,278 and 1,268 marks respectively.
Important to note here that 20D, 30D and 55D EMA heads up and confirms the bullish trend in a daily chart.
Seoul shares open up 0.78 pct.
We prefer to take long position on EUR/KRW around 1,320, stop loss 1,310 and target of 1,340.
